The Philippine government is embarking on a US$20 million loan agreement with the government of Germany this year in a bid to assist potential small- and medium-sized entrepreneurs (SMEs) in the poorest areas in the country. Trade Secretary Juan Santos said the fund will provide business development in 19 impoverished provinces of the country, among which are war-torn areas of Mindanao. The fund falls under the Department of Trade and Industry's (DTI) International Fund for Agriculture Assistance (IFAD) programme. "DTI has a lot of programmes devoted to uplift the economic status of our constituents in poor areas and IFAD is just one of them," Santos said. He said the programme forms part of the government's national SME development agenda. The trade chief said the Philippines and Germany are currently into negotiation for the immediate a
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